Infibeam’s Subsidiary to Power Escrow and Cross-Border Payments at India’s Global Finance Hub

Infibeam Avenues Ltd (NSE: INFIBEAM, BSE: 539807), a leading listed AI-fintech company, today announced that the International Financial Services Centres Authority (IFSCA) has granted in-principle approval to its wholly-owned subsidiary, IA Fintech IFSC Private Ltd (IA Fintech), to operate as a Payment Service Provider (PSP) in the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC).

GIFT-IFSC, based in Gandhinagar, Gujarat, is India’s premier special economic zone (SEZ) and a strategic international financial hub designed to host global financial operations that traditionally take place in centers such as London, Dubai, or Singapore. The IFSCA, a Government of India’s unified regulatory body, oversees and promotes all financial products, institutions, and services within the GIFT- IFSC or SEZ ecosystem.

With this in-principle approval, IA Fintech is set to deliver a broad suite of digital payment and cross-border financial services to businesses operating within GIFT-IFSC and international markets. These services will include escrow account operations, cross-border money transfer facilitation, and merchant acquisition — supporting enterprises with faster, more efficient, and regulated payment solutions.

“We are delighted with this approval and deeply grateful to the IFSCA for their trust in our fintech capabilities,” said Mr Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd. “This opportunity marks an important expansion of our business, creating a new and high-potential revenue stream that can meaningfully contribute to our overall growth.”

Upon obtaining final authorization and meeting statutory requirements, IA Fintech will be permitted to:

• Provide escrow services for secured financial settlements.
• Enable cross-border remittances into and out of the GIFT-IFSC/SEZ area.
• Facilitate payment processing and settlement for merchants.

Currently, many firms within GIFT-IFSC rely on traditional correspondent banking arrangements for international payments, involving multi-step routing through overseas banks via Nostro accounts and SWIFT networks. This process can take up to 36–48 hours and often incurs higher costs. IA Fintech’s PSP framework aims to streamline these transactions through advanced digital settlement infrastructure, ensuring near-instant, cost-effective, and transparent cross-border transactions.

The GIFT-IFSC ecosystem continues to grow rapidly — hosting over 16 Alternative Investment Funds (AIFs), 75 broker-dealers, 16 bullion trading entities, 23 aircraft leasing companies, 9 ship leasing firms, 118 qualified jeweler firms notified by IFSCA, 94 fund management firms and others. Collectively, these enterprises represent a significant addressable market for IA Fintech’s regulated digital payment services.

According to estimates, GIFT-IFSC is positioned to capture over USD 500 billion in financial opportunities spanning external commercial borrowings, trade finance, HNI wealth management, ESG pools, and lease financing across aviation and maritime sectors. For instance, trade finance transaction volumes have more than doubled — rising from USD 20 billion in FY22 to USD 46 billion in FY25.

IA Fintech as a regulated payment service providers intent to play a pivotal role in transforming GIFT-IFSC into a global fintech and cross-border payments hub, enabling faster financial flows, digital commerce efficiency, and greater competitiveness for Indian and international enterprises operating within the GIFT-IFSC/SEZ area.

GoodScore Raises $13M to Transform How Indians Track and Manage Credit

GoodScore, a Bengaluru-based AI-powered fintech platform, has raised $13 million in Series A funding, led by Peak XV Partners, with participation from existing investors Stellaris Venture Partners and Saison Capital. Founded in 2023 by Sanchit Bansal, GoodScore enables users to manage their credit health through personalised, AI-driven insights and expert guidance, helping them improve their credit scores and manage their borrowings.

India’s booming fintech ecosystem has made access to credit easier than ever, but it has also led to growing over-leverage and repayment stress. With multiple loan and credit-card options at their fingertips, many consumers are now juggling several EMIs without full visibility into their obligations. Fintech NBFCs now account for nearly three-fourths of all personal loans by count, and delinquencies are rising as borrowers stretch themselves thin. As of March 2025, personal loans overdue by more than 90 days rose to 3.6%, a six-quarter high, while credit-card dues overdue for 91-360 days surged 44% year-on-year to nearly ₹34,000 crore. This spike can be linked to borrowers holding three or more unsecured loans simultaneously, creating a need for responsible credit management tools that bring visibility, control and discipline back to consumers’ financial lives.

To solve this growing challenge, GoodScore offers an integrated, AI-powered credit management platform that brings together credit bureau data, transactional insights, and behavioural patterns to deliver real-time credit monitoring, personalised score improvement guidance, and repayment tracking, all in one place. The platform also features AI-led educational content, spend tracking, and access to human experts, helping users make smarter financial decisions, improve their credit scores and maintain healthy credit habits. GoodScore serves India’s growing base of credit-active users, from young earners to seasoned borrowers, enabling them to understand, manage and improve their credit profiles with confidence, and ultimately access loans at affordable rates.

Sanchit Bansal, Founder, GoodScore, said: “We started GoodScore with the belief that managing credit shouldn’t be as stressful or confusing as it is today. We wish to change how Indians interact with credit by bringing every user’s credit life into one view, helping them understand their loans, track payments and make informed, data-driven financial decisions. Our goal is to make responsible credit management a mainstream habit for millions of Indians.”

Ishaan Mittal, Managing Director, Peak XV, “India has an active borrower base of over 250 million consumers. GoodScore is on a mission to empower them by putting them in charge of their credit health. They can track scores, take actionable steps to resolve bureau disputes and manage repayments seamlessly. GoodScore is not just helping users improve scores, it is unlocking credit access and fueling true financial inclusion in India. We are proud to be a part of this mission with Sanchit and team.”

Mayank Jain, Principal, Stellaris Venture Partners, said, “Having known Sanchit for over a decade, I have seen firsthand his deep customer-backwards orientation and product-first mindset. That conviction made it natural for us to back him from day zero, and it is reflected in GoodScore's formidable customer NPS and trust among users. The company's strong traction today reflects the rising importance of credit health in India, with COVID serving as a key catalyst in this shift. As a partner since 2023, Stellaris has been privileged to support GoodScore's journey, and we look forward to the continued impact they will create.”

Since its launch, GoodScore has rapidly scaled to millions of active users pan-India, with strong adoption across Tier 2 and Tier 3 cities. GoodScore plans to use the funds raised to deepen its AI-led advisory offerings, expand its tech, product and operations teams, and further enhance its credit marketplace, connecting borrowers and lenders across India.

About GoodScore: GoodScore is an AI-powered platform that simplifies credit management for Indian consumers. From personalised credit advisory and real-time credit score monitoring to flexible repayments and spend tracking, GoodScore empowers users to take control of their financial health. The company partners with leading financial institutions including HDFC Bank, KreditBee, and Tata Capital, building a premier credit ecosystem. Website: https://www.goodscore.app/

Bank of India Announces 4 Major Launches, Strengthening Its Innovation Edge

Bank of India, one of India’s leading public sector banks reinforced its commitment to digital innovation and customer-centric solutions with the launch of four breakthrough products and initiatives aimed at enhancing security, convenience, and inclusivity in banking. The launches were unveiled during the Global Fintech Fest (GFF) 2025, where the Bank made a strong impression with its engaging and interactive booth.

The Bank’s booth was inaugurated by Dr. Arjun Deore, IFS, Regional Passport Officer & Head, MEA Branch, Mumbai, in the presence of Shri Rajneesh Karnatak, MD & CEO, and senior leadership of the Bank. Dr. Deore commended the Bank’s leadership in driving digital innovation and introducing cutting-edge solutions relevant to today’s evolving financial landscape.

Among the key launches was a Proof-of-Concept (PoC) solution designed to prevent fraudsters from registering on mobile banking applications through social engineering or fraudulent calls. The PoC was inaugurated by Shri Atul Kumar Goel, CE, IBA, who described the initiative as a potential game changer for the banking sector, addressing one of its most critical cybersecurity challenges.

The Bank also introduced NPCI’s biometric-based UPI transactions for small-value payments via mobile phones. This solution simplifies the user journey by mitigating UPI PIN fatigue and reducing transaction time by up to 20%, thereby improving the overall payment experience.

Further, the Bank unveiled two new premium credit card offerings in partnership with RuPay—

• Celestia, a premium credit card designed for high-value customers, offering benefits worth up to ₹1.5 lakh.
• Lakshmi Credit Card, a special card curated exclusively for women customers, offering a differentiated and empowering experience.

In line with its focus on financial inclusion, Bank of India also signed an MoU with PayNearby Technologies to avail business correspondent services under the Digital Naari Initiative. The MoU was exchanged in the presence of Shri Atul Kumar Goel, Shri Rajneesh Karnatak, Shri Subrat Kumar, Shri Rajeev Mishra, Shri Ashok Pathak, and Mr. Anand Bajaj. This partnership aims to empower hardworking women across rural and urban India, supporting the Government of India’s vision of inclusive and accessible banking.

RBI Deputy Governor Unveils 3 Groundbreaking Digital Payment Innovations at Global Fintech Fest 2025

1. UPI Multi-Signatory
2. Small Value Transactions using Wearable Glasses via UPI Lite and
3. Forex on Bharat Connect

The Reserve Bank of India Deputy Governor Shri T. Rabi Sankar, announced the launch of three key digital payment innovations at the Global Fintech Fest 2025. The new offerings are ‘UPI Multi-Signatory’, ‘Small Value Transactions using Wearable Glasses via UPI Lite’ and ‘Forex on Bharat Connect’.

UPI Multi-Signatory 

The RBI Deputy Governor announced the launch of the Multi-Signatory Accounts feature on UPI to enables multi-signatory/ joint accounts on UPI that require authorisation from one or more signatories to perform UPI payments seamlessly. Signatories can conveniently use a any UPI app to manage linked bank accounts, making the process more convenient, hassle free and enhancing transaction speed. This feature is fully interoperable, allowing initiators to use any UPI or bank apps, while signatories can approve via any UPI or bank app. By eliminating the delays, it improves efficiency and creates complete transparency through digital records of approvals and payments.

This is the first time UPI is extending approval-based payment capabilities to joint/ multi-signatory account holders. Corporates, MSMEs, start-ups, trusts, and joint account holders can now use UPI for vendor payments, recurring payments, reimbursements, etc. that require authorisation from one or more users/ signatories.

Small Value Transactions Using Wearable Glasses via UPI Lite 

The RBI Deputy Governor also announced the launch of ‘Small Value Transactions using Wearable Glasses via UPI Lite’. UPI Lite is designed for small-value, high-frequency payments with enhanced success rates and minimal dependency on core banking infrastructure. With this integration, users can complete hands-free and secure transactions by simply scanning a QR, authenticate and complete payments through voice on Smart Glasses, without needing a phone or entering a PIN. The solution is aimed at everyday payments such as retail, food, and transit, encouraging greater digital payment penetration. This feature addresses customers’ growing demand for seamless, frictionless payments that integrate effortlessly into their always-connected, on-the-go digital lifestyle. This launch marks the first time UPI is extended to the wearable ecosystem, representing a step towards ‘ambient payments’ by enabling seamless digital payments. It also benefits banks and PSPs by reducing core banking system load through off-CBS wallet execution. Embedding UPI Lite on Smart Glasses enhances convenience for consumers and strengthens India’s leadership in digital payment innovation globally.

Forex on Bharat Connect

The event also featured the launch of linkage of FX Retail Platform with Bharat Connect, enabling retail customers to access foreign currency (USD) through their preferred payment/banking apps integrated with the Bharat Connect (BBPS) platform.

The product, launched by NPCI Bharat BillPay Ltd. (NBBL) in collaboration with the Clearing Corporation of India Limited (CCIL) and under the guidance of the Reserve Bank of India (RBI), ensures transparent pricing with real-time, competitive rates sourced from the CCIL-managed FX-Retail platform. Customers can seamlessly buy USD for three delivery modes – Currency notes, Forex Card Load or Outward Remittance and fulfill digitally on Bank’s platform or visit a Bank Branch post purchase of forex.

This integration allows individual customers of participating Authorised Dealer Category-I which are Axis Bank, Federal bank, ICICI Bank, State Bank of India and Yes Bank to register, view ‘Best Price’ in real time, and complete purchase of US Dollars digitally. It enhances convenience, security, and transparency for customers while addressing long-standing challenges such as physical documentation, inconsistent markup pricing, prolonged processing times, and long banking queues. The collaboration between NBBL, CCIL, banks and select apps is a step forward in expanding access to regulated forex services, promoting financial inclusion, and strengthening India’s digital payments ecosystem.

Ignosis Raises $4M Led by Peak XV’s Surge to Scale AI-Powered Financial Intelligence for India’s BFSI Sector

L-R: Nirav Prajapati, Co-Founder & CEO, Ignosis, and Chintan Sheth, Co-Founder & CTO, Ignosis

• In just three years, Ignosis has earned the trust of 125+ financial institutions enabling access to credit, insurance, and investments through hyper-personalised, AI-driven financial intelligence.

Ignosis, India’s leading enterprise-first Account Aggregator (AA) infrastructure and financial data intelligence platform, has raised $4 million in its Pre-Series A round led by Peak XV’s Surge, with participation from Force Ventures, Razorpay Ventures, Kunal Shah of Cred and other existing investors.

Ignosis tackles the systemic challenges holding back India’s financial data ecosystem. Despite rapid digitisation, 160M+ Indian consumers remain credit underserved. Most of them without a formal proof of income, remain excluded from affordable loans, insurance, and financial planning. Even 80% of MSMEs still struggle to access formal credit.

Ignosis addresses these critical gaps with its Account Aggregator (AA) infrastructure and financial data intelligence platform. It enables BFSI to underwrite, collect, and advise with confidence. And drive the next wave of financial inclusion in India.

Nirav Prajapati, Co-Founder and CEO, Ignosis, says–

We believe Account Aggregator (AA) is set to become embedded in every financial transaction journey in India. Just as UPI became the default rails for payments, AA is poised to become the default rails for secure, consent-driven financial data sharing. Our solution is to build a reliable and intelligent Account Aggregator (AA) layer that makes financial data both accessible and usable.

“With advances in AI, we are enabling BFSI to move away from legacy bank statement analytics into a new era of financial data intelligence,” says Chintan Sheth, Co-founder & CTO, Ignosis. “Our platform delivers highly accurate income detection, risk underwriting, and fraud and financial health signals. Ignosis gives institutions the precision and confidence to serve customers with speed, trust, and personalized financial services.”

Ignosis will deploy the capital to scale its engineering, business, and compliance teams in support of customers across India’s evolving financial ecosystem. Key growth priorities include driving hyper-personalisation through financial data intelligence and building finance-specific LLMs and agentic AI use cases for BFSI.

Ignosis is built on secure, compliant rails aligned with the RBI’s Account Aggregator framework and the DPDP Act, 2023, enabling financial institutions to innovate while meeting regulatory standards. Headquartered in Ahmedabad, Ignosis was founded in 2022.

About Ignosis

Ignosis is India’s financial data intelligence platform with enterprise-first Account Aggregator infrastructure for financial institutions. Serving 125+ BFSI customers, its AI analytics platform provides accurate income verification, intelligent collections, spend analysis, portfolio/wealth insights, hyper-personalised nudges along with risk and fraud signals.

Ignosis is building on RBI- and DPDP-compliant DPI rails including AA, OCEN, and ONDC-FS to empower 300M+ underserved Indians with faster, safer, and more inclusive access to credit, wealth, and insurance.

Headquartered in Ahmedabad, Ignosis was founded by Nirav Prajapati and Chintan Sheth and has raised $4M in pre-Series A led by Peak XV’s Surge with participation from Razorpay Ventures, Force Ventures, and Kunal Shah.

Standard Chartered’s SC Ventures and Fujitsu Launch ‘Project Quanta’ to Accelerate Quantum Innovation in Finance

SC Ventures by Standard Chartered Bank, which builds and invests in breakthrough ventures in and beyond banking, together with Fujitsu, a leading developer of quantum software and hardware, are set to join forces on September 25 to incubate Project Quanta. The project will integrate multiple software and hardware technologies to provide clients a platform to rapidly explore, develop and integrate quantum computing and quantum- inspired applications.

The joint venture will leverage Fujitsu’s expertise in quantum computing R&D and software-and-algorithm development as well as insights gained through the development of its superconducting quantum computer. It will bring this expertise together with SC Ventures’ venture building prowess and deep insights into financial institutions to accelerate the development of quantum use cases, intellectual property, resources and value.

In this platform, in addition to the development environment, it provides pre- built algorithms in areas such as fraud detection, risk simulations, derivative pricing, and credit decision, enabling users to develop their own algorithms. We also provide access to data and backend hardware, allowing users to test their algorithms.

This project will utilize Fujitsu’s quantum computing technology. Fujitsu has been developing quantum computing capabilities through both software and hardware advancements utilizing multiple joint research initiatives. Based on the collaboration with RIKEN, Fujitsu is currently developing a 1,000-qubit superconducting quantum computer, scheduled to begin operation in fiscal 2026.

Looking ahead, the company is also planning the development of a plus-10,000 qubit (250 logical qubit) superconducting quantum computer by fiscal 2030.

Apurv Suri, Client Engagement & Partnerships Lead, SC Ventures, comments: “The current quantum development industry is fragmented with some companies excelling at hardware integration while others are better at quantum algorithm building tools. By joining forces with Fujitsu, we want to unlock quantum resources and talent on one platform for corporates looking to scale their quantum capabilities.”

Staf ford Bond, Head of Growth Investments, Fujitsu Services Limited, comments: "At Fujitsu, we are committed to solving the world’s most complex challenges through innovation and collaboration. Partnering with SC Ventures on Project Quanta represents a bold step toward democratising access to quantum capabilities and realising true quantum advantage. By combining our expertise in quantum technologies and integration with SC Ventures’ deep industry insight and venture building pedigree, we aim to accelerate the practical application of quantum technologies and unlock transformative value for businesses.”

About Fujitsu

Fujitsu’s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers around the globe, our 113,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: AI, Computing, Networks, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$23 billion) for the fiscal year ended March 31, 2025 and remains the top digital services company in Japan by market share.

HSBC’s Quantum Breakthrough Could Reshape Wall Street

In a landmark moment for financial technology, HSBC has unveiled results from a quantum computing trial that could redefine how Wall Street approaches bond trading. The bank’s experiment, conducted in partnership with IBM, demonstrated a 34% improvement in predicting bond trade execution—an edge that could translate into billions in competitive advantage.

Quantum Meets Wall Street

Using IBM’s Heron quantum processor, HSBC ran simulations on anonymized, production-scale European corporate bond data. Unlike previous quantum trials that relied on synthetic datasets or theoretical models, HSBC’s test was grounded in real-world trading conditions. The result: quantum algorithms outperformed classical methods in forecasting whether a bond would trade at its quoted price.

This is our Sputnik moment, said Philip Intallura, HSBC’s global head of quantum technologies. It’s the first time quantum computing has shown tangible value in live financial markets.

Why It Matters

Bond trading, especially in less liquid markets, hinges on predicting execution probability. A 34% boost in accuracy means traders can quote more confidently, manage risk better, and potentially unlock new revenue streams. For Wall Street firms competing on milliseconds and margins, quantum’s predictive power could be transformative.

The Quantum Arms Race

HSBC’s breakthrough adds fuel to a growing quantum race among global banks. JPMorgan Chase, Goldman Sachs, and Citigroup have all invested in quantum research, but HSBC’s use of real trading data sets a new benchmark. The trial also signals a shift from theoretical promise to practical deployment.

According to McKinsey, quantum computing could generate $72 billion in annual revenue by 2035, up from $4 billion last year. Financial services are expected to be among the earliest beneficiaries, especially in areas like portfolio optimization, risk modeling, and fraud detection.

What’s Next

While quantum computers remain in their infancy, HSBC’s trial proves that even today’s noisy intermediate-scale quantum (NISQ) devices can deliver meaningful results. As hardware improves and algorithms mature, quantum could become a core pillar of financial infrastructure.

For now, HSBC’s experiment is a wake-up call: the quantum future isn’t decades away—it’s already reshaping the foundations of Wall Street.

Lark Finserv Launches India’s First API-Based Lending Against Securities Platform

Lark Finserv, one of India’s emerging fintech innovators, has launched the country’s first API-driven credit infrastructure for Lending Against Securities (LAS). This launch enables wealth-tech platforms, brokers, and investment apps to help their clients easily access liquidity against mutual funds directly within their app ecosystem, marking a first in India.

Rohit Pateria, Founder, Lark Finserv

Lark Finserv aims to transform the Credit-Liquidity Equation for investors. Previously, investors seeking liquidity from their holdings had to either redeem their mutual funds early or look outside their wealth-tech platform for loans from traditional lenders. This practice disrupted the customer journey and negatively impacted the long-term growth potential of the investment.

Lark is poised to change this through its full-stack technology. By integrating its API-first LAS Tech Stack with existing investment infrastructure, Lark allows wealth-tech platforms to provide instant credit against investments, including mutual funds. Investors can now borrow quickly and securely against their portfolio without needing to redeem or exit.

“Lending against securities represents a $100+ billion opportunity in India,” said Rohit Pateria, Founder & CEO of Lark Finserv. “Our launch is about more than just adding credit; it’s about changing how liquidity flows into the wealth-tech ecosystem. By creating an API-first LAS infrastructure, we’ve made it possible for wealth platforms to keep investors engaged, grow assets under management, and provide credit as a service that feels integrated.”

Lark’s LAS infrastructure is designed as a multi-lender platform, acting as a neutral, plug-and-play marketplace that seamlessly connects wealth-techs with multiple lending partners at once. Instead of being tied to the policies or balance sheet of a single lender, this model unlocks wider credit coverage to serve investors across diverse risk tiers, fosters competitive pricing by giving platforms and investors more options, and ensures resilience and scale by eliminating single-point dependencies while allowing lenders to compete to meet demand.

India’s mutual fund industry has surpassed ₹60 lakh crore in assets, with millions of investors entering the market each year. However, a significant problem persists; investors often redeem mutual funds when they need liquidity, disrupting their compounding journey and lowering long-term returns. Lark’s LAS will serve as a robust solution for the industry. By allowing loans against mutual funds, Lark offers wealth-techs an effective way to prevent this loss. Investors gain liquidity while keeping their investments intact; platforms maintain higher assets under management, and fund houses benefit from stronger long-term growth. “Preventing premature redemption is the biggest use case for LAS in India’s wealth-tech ecosystem,” adds Rohit. “We believe that lending against mutual funds alone can significantly drive industry growth and support long-term capital formation.”

Lark’s LAS does not only help in investment securities against mutual funds, it encompasses all types of investment securities available to retail and high-net-worth investors. From listed stocks to corporate bonds, and from REITs/ETFs to private-market AIF units, Lark’s infrastructure supports a variety of assets for financing. This extensive coverage allows wealth-tech platforms to cater to different investor profiles, whether they are first-time mutual fund investors, high-net-worth individuals holding corporate shares, or institutional clients invested in REITs or AIFs.

Lark is changing the lending landscape with a straightforward credit system that makes Loans Against Securities (LAS) a natural addition for wealth-tech platforms. With fast API integrations, these platforms can provide instant, paperless credit for investors directly in their apps, without needing to redirect users. For investors in India, this means they can access money without selling assets. They get immediate funds while keeping their portfolios fully invested.

Just as embedded finance changed payments and insurance, Lark is establishing a new space in Wealth + Credit. This drives the next wave of change in wealth-tech. By linking wealth platforms and lenders, Lark allows investors to borrow as needed without disturbing their investments. It boosts market strength by keeping assets under management invested, which supports both equity and debt markets. Through its API-first, multi-lender setup, Lark brings credit innovation at scale and encourages growth in the ecosystem where platforms keep customers, lenders broaden their reach, and investors remain in control.

Lark is not just providing credit; it is creating a new financial foundation for Wealth-Tech 2.0 in India.

Lark’s launch marks the beginning of a larger mission to build the credit operating system for India’s investment ecosystem. In the long run, it envisions extending its liquidity solutions into tokenized securities, real estate, and emerging asset classes, shaping a future where credit is seamlessly embedded across the financial internet.

About Lark Finserv

Founded in the year 2023, Lark Finserv is India’s premier credit infrastructure provider for wealth platforms. Built on a purpose-driven SaaS model, Lark enables seamless lending against mutual funds and a wide spectrum of securities through its world-class technology stack. By embedding lending-as-a-service (LAS) directly into wealth management journeys, the company empowers wealth management firms, fintechs, mutual fund distributors, independent advisors, and stockbrokers to unlock liquidity instantly—without requiring investors to sell their holdings or disrupt their long-term wealth creation goals.

Weaver Services Secures $170M from Lightspeed, Premji Invest to Transform Affordable Housing Finance in India

Weaver Services, a technology-first housing finance platform aiming to transform affordable housing finance in India, announced today that it has executed definitive transaction documents to raise $170 million funding in a landmark investment round led by Lightspeed and Premji Invest, subject to regulatory approvals. Gaja Capital also participated in the round.

Weaver is building a next-generation housing finance platform through use of technology and AI-driven workflows, to serve India's vast underserved affordable housing segment with a focus on self-employed individuals. Earlier, Weaver acquired Capital India Housing Finance as an anchor asset for the platform. It is likely to acquire another asset for initial scale and is currently evaluating a few assets for this purpose. The investment will accelerate Weaver's asset acquisition, fund technology development, and expand reach across tier-2 and tier-3 cities where the affordable housing gap is most acute. The team intends to combine strong market expertise in affordable housing with proprietary tech-driven underwriting models that leverage alternative data to assess creditworthiness beyond traditional parameters, enabling faster approvals and more inclusive lending.

Leading Weaver's transformation is Founder and Vice Chairman Satrajit Bhattacharya, an industry veteran with three decades of experience at HDFC Ltd. Alongside him, Co-Founder and CEO Anil Kothuri brings three decades of deep expertise in financial services, working at FedFina, Edelweiss and Citi.

“We aim to make housing finance more accessible to the people of India by leveraging technology and placing customers at the centre of our focus thereby bringing in a new paradigm in the space” said Satrajit Bhattacharya, Founder and Vice Chairman of Weaver Services.

"There is a clear opportunity to use technology mindfully to offer home loans to the informal segment, while achieving better customer selection, superior risk management, and enhanced productivity." said Anil Kothuri, MD and CEO of Weaver Services.

Investor Partnership

The investment marks a significant commitment by Lightspeed and Premji Invest, both of whom have been investing in India for two decades. Lightspeed, a global multi-stage investment firm with over $30 billion in AUM and a strong track record of backing category-defining entrepreneurs, sees Weaver as an impactful force that could potentially reshape India's housing finance market across Tier 1, 2 and 3 cities.

"We believe that India's housing finance market remains under-penetrated and we see it as a tremendous opportunity. Weaver’s combination of deep domain expertise, AI-driven capabilities, and a tech-first approach that positions them to democratize home ownership for millions of underserved Indians. At Lightspeed, we partner with bold, visionary founders with conviction to build extraordinary category leading companies. We are excited to partner with Satra, Anil and the exceptional team to reimagine the housing finance landscape in India” said Anuvrat Jain, Principal - Growth Investments, Lightspeed.

"At Premji Invest, we see a significant opportunity to leverage technology to transform the affordable housing finance sector in India. The acquisition of Capital India Housing Finance by Weaver Services marks an important first step toward delivering frictionless, scalable, and inclusive mortgage solutions for underserved segments. This investment reflects our commitment to backing differentiated and innovative platforms that use technology to drive meaningful, long-term impact in financial services” said Saravanan Nattanmai, Partner, Premji Invest.

Gopal Jain, Managing Partner, Gaja Capital added "Weaver is addressing a deep-rooted gap in India’s housing finance ecosystem with a tech-led, customer-first approach. Their sharp focus on the self-employed segment, combined with disciplined execution, positions them well to emerge as a leader in the next phase of inclusive growth in financial services”

About Lightspeed

Lightspeed is a leading global multi-stage investment firm, investing across venture to late-stage growth, with a focus on accelerating disruptive innovations in AI, Enterprise, Financial Services, Consumer, Health, and B2B. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs building some of the most innovative and category-defining companies in the world. Globally, Lightspeed has invested in more than 500 companies, including Anthropic, Affirm, Anduril, Epic Games, Nutanix, Snapchat, AppDynamics, MuleSoft, Rubrik, Wiz, Oyo, Zepto, Udaan, Razorpay, PocketFM, Physicswallah and many others. Today, Lightspeed and its global team manage over $30 billion in AUM across its platform, with investment professionals and advisors based in the U.S., Europe, India, Israel, and Southeast Asia. Lightspeed began investing in India in 2008, with a portfolio that now spans both early-stage startups and growth-stage market leaders.

About Premji Invest

Premji Invest (PI) is a leading global investment firm with a charter to back emerging and disruptive technologies, address sizable market opportunities and nurture the spirit of entrepreneurship. Its evergreen structure allows PI to make investments in India and the US with a long-term horizon. PI invests both in private and public markets. Its private investments include early stage, growth equity and buyouts and focus areas span financial services, technology, consumer, industrials, and healthcare. Public markets investments span listed companies with promising long-term prospects, sustainable returns and high standards of corporate governance across sectors. Investments are done using a structured quantamental (fundamental + quantitative) approach. The returns generated by PI primarily support the work of Azim Premji Foundation, a non-profit that works to improve the lives of the underserved and underprivileged in society.

About Gaja Capital

Gaja Capital is one of India’s leading PE/alternative asset management companies, focused on providing growth capital to ambitious entrepreneurs building the future champions of the Indian economy. Founded in 2004, Gaja Capital has established itself as India’s first institutional and independent private equity firm with a strong track record of performance and value creation. Gaja Capital is recognised as a partner of choice by emerging Indian companies and top-tier global and domestic institutional investors. Some of Gaja Capital’s investments include Teamlease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Ei, Leadsquared, Signzy and Fractal Analytics.

Adani’s Fintech Foray: Decoding the Paytm Talks and the Race for India’s Super-App Crown

Conversations in boardrooms from Mumbai to Abu Dhabi are buzzing: Adani’s next frontier could be payments. For veterans who’ve lived through UPI’s explosive rise, the pursuit of Paytm isn’t just another M&A story—it’s a calculated move on a digital chessboard.

After ports, airports and power plants, Gautam Adani is quietly steering his empire toward digital finance—and according to trusted reports Adani is targeting one of the sector’s earliest disruptors: Paytm.

1. The Sub-25% Play: Influence Without the Open-Offer Drag

Navigating SEBI’s takeover regulations is second nature to you. Adani’s bid to cap the stake just below 25% in One97 Communications buys boardroom influence and strategic access—without triggering the costly open-offer requirement that kicks in at 25%+. It’s a familiar trick, yet few execute it at this scale.

Why sub-25%? Any investor crossing the 25% threshold under SEBI rules must launch an open offer for at least 26% of public shares—an expensive, time-consuming process. By structuring the deal just below that line, Adani can secure board influence and strategic access without triggering a mandatory takeover bid.  

2. Why Paytm Still Matters to Payments Insiders

Paytm’s ecosystem isn’t just about QR codes or P2P transfers. It’s a sprawling network of mini-loans, insurance referrals and bill payments.

More than just UPI, Paytm still commands mindshare. From QR-code scans in chai shops to utility-bill payments and movie tickets, its app touches hundreds of millions of Indians every month.

For Adani, plugging into Paytm infrastructure could shave off years of go-to-market effort:

• Instant Reach – Leverage Paytm’s 350 M+ MAUs to accelerate customer acquisition.
• Revenue Cross-Sell – Bundle payments, lending and commerce into the Adani One super-app.

3. Adani One: More Than a Wallet

Veteran payments pros will spot the parallels with other super-app forays. Adani One aims to unify:

• UPI and BBPS bill payments
• Co-branded credit cards (partnering with banks and networks)
• Embedded lending, insurance and wealth products
• ONDC-enabled marketplace services

Launch with Paytm’s rails under the hood and you’ve got an instant contender against Google Pay, PhonePe and Jio Financial.

4. Gulf Partners: Capital and Governance Muscle

Seasoned dealmakers know the value of co-investors. By inviting Gulf sovereigns and PE funds, Adani spreads the equity load and bolsters governance optics—critical when you’re integrating a startup culture into a ₹900 K-crore conglomerate.

• Capital Leverage – Lowers Adani’s equity commitment, unlocking more runway.
• Governance Uplift – Institutional partners bring boardroom rigor and regulatory comfort.

5. Market Signals: Denials vs. Price Action

You’ve seen this play before: public denials followed by share spikes. One97’s 5% jump post-rumor suggests the market’s arbitrageurs trust the whispers over formal statements. In fintech, price action often trumps press releases.

6. Stakes for the Payments Ecosystem

A closed deal shifts the competitive landscape:

• For Adani: A shortcut to B2C finance, diversifying away from CAPEX-heavy assets.
• For Paytm: Strategic capital, enterprise integration and product expansion.
• For Incumbents: Fresh rivalry, faster innovation cycles and pressure on margins.

Regulatory clearances, shareholder nods and the cultural integration of startup agility into corporate scale remain the linchpins.

7. Milestones to Watch

• SEBI Filings – Any acquisition over 5% triggers disclosures and waiting periods.
• 25% Threshold Decision – Will Adani test the open-offer waters or steer clear?
• Adani One Rollouts – Early lending and card partnerships will reveal how deep the play goes.
• Co-Investor Announcements – Gulf fund commitments will signal deal momentum.

For payments professionals, the Adani-Paytm dialogue is more than boardroom chatter—it’s a live case study in strategic positioning, regulatory navigation and the art of super-app execution.

5paisa Taps Claude AI to Launch MCP for Seamless, AI-Led Trading

5paisa Capital, one of India’s leading discount broking firms, has officially launched its Model Context Protocol (MCP). This framework integrates Claude, a state-of-the-art large language model (LLM), with 5paisa’s internal APIs. This launch represents a strategic integration aimed at enhancing user experience and brings AI-powered trading capabilities to 5paisa users. With MCP, 5paisa users can now perform a wide range of trading tasks — from placing orders and analyzing market data to backtesting strategies — simply by interacting with Claude via natural language. This rollout aligns with 5paisa’s vision to simplify advanced trading tools for everyday investors.

With the MCP, users can now harness the power of cutting-edge LLMs to make more informed trading decisions using real-time market data and their own custom datasets. By enabling intelligent prompt-based trading through 5paisa XStream Open APIs, MCP empowers users to bring any data source — be it weather, crop yield, or macroeconomic indicators — into the decision-making process for personalized stock market analysis.

“We believe the future of investing lies in empowering users with intelligent tools that are not just data-driven, but context-aware. Model Context Protocol is our answer to the growing need for adaptive AI in financial decision-making,” said Gaurav Seth, MD & CEO, 5paisa Capital. “With MCP, even non-coders can now interact with complex datasets and advanced trading strategies through natural language — truly putting the power of institutional-grade analytics into the hands of everyday investors.”

Key Features of 5paisa MCP

• AI-enabled Trading Assistant: Built-in support for Claude LLM, with plans to support additional AI models soon.
• Prompt-Based Interface: No coding knowledge required — simply type commands like “Backtest my breakout strategy from Jan 2021 to Dec 2022”.
• Custom Data Integration: Users can include external context (e.g., climate data, economic forecasts) for enhanced decision-making.
• Encrypted & Private: All data shared is encrypted during transit; users retain full control of data sharing.
• Free for Existing Users: MCP is available at no additional cost to all current 5paisa account holders.
• Cross-Platform Support: Available on Windows, Mac, and Linux via Claude Desktop.

The MCP assistant can also be used without logging in for general information and market research. However, advanced trading features and account-linked capabilities will remain exclusive to authenticated users.

This launch reinforces 5paisa Capital’s commitment to offering the most innovative, accessible, and secure trading solutions in the Indian financial landscape. MCP is now live and accessible via the desktop and web application for all 5paisa customers.

5paisa Capital is India’s leading digital-first discount broker, offering cost-effective and technology-driven financial services to retail investors. With a mission to democratize investing, 5paisa continues to innovate at the intersection of finance and technology, delivering seamless trading, investing, and wealth management solutions to millions across the country.

Acies Ventures Announces Strategic Investment in Fintech Neoble

Acies Ventures, the investment arm of Acies, has announced a strategic investment in Neoble, a technology-driven platform specializing in loan-against-securities products. This investment aligns with Acies Ventures’ commitment to transforming financial services by backing companies that enhance market infrastructure, digital lending, and financial inclusion.

Neoble’s platform enables customers to seamlessly pledge their financial securities—such as mutual funds and equities—to obtain loans efficiently. By digitizing the entire loan process, including KYC verification, agreement execution, and disbursement, Neoble ensures borrowers can access funds within hours, significantly reducing traditional processing times. The company is addressing the underpenetrated loan-against-securities market in India, particularly among retail investors.

Driving Innovation in the Loan-Against-Securities Space

With traditional loan-against-securities products being inaccessible primarily to retail investors due to complex processes and high entry barriers, Neoble is disrupting the market by introducing a simplified, digital-first approach. By streamlining the entire lending cycle and reducing processing times significantly, Neoble is enhancing financial inclusion and ensuring that individuals can easily unlock their investments' liquidity.

Commenting on the investment, Muzammil Patel, CEO of Acies, said, "Our investment in Neoble aligns with our vision to revolutionize financial services through technology-driven solutions. Neoble's innovative platform provides quick and efficient access to credit and brings awareness to retail investors on the benefits of leveraging their financial assets. We believe this partnership will significantly contribute to financial inclusion and market transparency."

Leveraging Technology for Market Transformation

Neoble's approach is deeply rooted in leveraging advanced technology to create a frictionless experience for borrowers. Its intuitive platform allows customers to complete loan applications, pledge their securities, and receive funds without extensive paperwork or prolonged processing times.

Abhinava Bajpai, Head of Acies TechWorks, highlighted the technological advancements Neoble brings to the market, "Neoble's platform exemplifies the fusion of cutting-edge technology with financial services. By digitizing the loan-against-securities process, they have created a user-friendly experience that caters to the evolving needs of today's retail investors. We are excited to support Neoble in scaling their operations and reaching a broader marketplace."

JP Sinha, Founder and CEO of Neoble adds: "Neoble’s platform is redefining how retail investors can access alternative financing options instead of the traditional consumer loans. By digitizing the loan-against-securities process, we are bringing much-needed awareness, accessibility, speed and ease-of-use to retail investors. We are excited to have Acies Ventures as a strategic investor and share our vision to enhance financial inclusion in India."

Acies Ventures' Commitment to Market Development

Acies Ventures invests in companies transforming financial services, market infrastructure, and technology adoption. With a strong focus on supporting entrepreneurs to solve real-world problems, Acies Ventures is dedicated to strengthening digital ecosystems that empower individuals and businesses.

About Neoble

Neoble is a forward-thinking financial services platform that focuses on delivering secure, efficient, and customer-centric solutions. The company aims to simplify financial management, empowering individuals to make informed decisions quickly. Neoble's approach blends speed, control, and convenience, offering seamless experiences for its users. With a team of industry experts and a commitment to innovation, Neoble strives to build trust and redefine the path to financial success, ensuring that investments remain entirely in the hands of the customers.

About Acies

Acies is a multinational firm offering a diverse range of technology platforms, consulting services, content solutions, and strategic investments. We empower businesses to implement, scale, and achieve sustainable growth.

NPST and Hyperface Partner to Enable Instant Credit Access via UPI for Banks

Partnership Set to Democratize Digital Credit Access for 400+ Million UPI Users

NPST, a leading provider of banking and payment solutions in India, and Hyperface, Asia’s first Credit Cards as a Service (CCaaS) platform, have announced a strategic partnership to enable banks and credit issuers to offer embedded credit solutions through UPI, marking a significant milestone in India's digital financial ecosystem and expanding instant credit access for millions of users.

With India's growing middle class and increasing discretionary spending, affordable access to credit remains a challenge due to low credit card penetration — just 100 million cards compared to over 400 million UPI users. The NPST-Hyperface alliance bridges this gap, delivering a seamless, digital-first credit experience that enhances purchasing power, fuels consumer spending, and drives financial inclusion at scale.

Banks and credit issuers can leverage their vast infrastructure and rich customer data to offer tailored UPI-based credit products. Eligible consumers will gain access to pre-approved credit lines at the point of sale, empowering them to make purchases and split payments into flexible instalments. Merchants stand to benefit from higher conversion rates, larger basket sizes, and stronger customer loyalty.

Through this partnership, NPST will integrate its UPI switch technology with Hyperface’s advanced Embedding Banking Platform. Hyperface's Credit Management Engine, built on a sophisticated technology stack, is a completely modular, flexible, and comprehensive solution; it enables banks not only to build, iterate and deploy Credit Line on UPI-ready products rapidly but also re-calibrate in real-time to drive scalability. The combined solution equips banks with digital-first credit solutions with full-spectrum lifecycle support — including customer risk assessment, real-time business insights, and built-in compliance tools — enabling innovative and sustainable credit offerings through UPI.

Commenting on the partnership, Deepak Chand Thakur, Co-Founder and CEO, NPST, stated; “We are proud to partner with Hyperface to democratize access to credit through UPI. As consumer expectations evolve, this collaboration positions banks to meet those needs with agility — driving customer satisfaction, boosting transaction volumes, and creating new revenue streams through interchange fees. Together, we’re not just transforming credit; we’re shaping the future of embedded finance in India.”

"The rapidly evolving UPI ecosystem demands both technological sophistication and extraordinary agility — qualities that legacy systems simply cannot deliver”, said Ramanathan RV, Co-Founder and CEO, Hyperface. “As new use cases emerge and requirements rapidly evolve, we recognized the need to partner with a modern, tech-forward player who could match our pace of innovation. Hyperface's advanced Credit Management Platform, combined with NPST's proven expertise in UPI technology, creates a powerful synergy that will enable banks to build, rapidly deploy and scale innovative credit solutions for tailored customer segments. This partnership exemplifies how new-age companies can collaborate to solve complex financial challenges at the speed the market demands."

About NPST

Incorporated in 2013, NPST is a leading fintech firm in India, part of the Make in India initiative and listed on the NSE Small and Medium Exchange. We specialize in UPI payments and digital banking and operate as both a Technology Service Provider (TSP) and a Payment Platform as a Service Provider (PaaS). Our solutions include online and offline transaction processing, banking super apps, fraud prevention, dispute management, and RegTech.

NPST’s mission is to deliver financial technology solutions across the financial value chain — serving banks, fintech’s, and other industry players — and to drive the growth of the digital payments ecosystem. NPST supports 100+ customers, and processes 50+ million transactions daily, advancing businesses, individuals, communities, and economies through its innovative solutions. For details, please visit https://www.npstx.com/.

About Hyperface

Hyperface is the Definitive Credit Cards Innovation Platform that is revolutionizing the way banks, brands, and fintechs approach credit card and credit line solutions. As Asia’s first Credit Cards as a Service (CaaS) platform, Hyperface provides businesses with the technology to launch, manage and scale their own credit card and credit line programs. From program design and development to risk management and compliance, Hyperface empowers banks and co-brands to deliver exceptional, digital-first experiences that resonate with modern consumers.

For details, please visit https://www.hyperface.co/.

Aussie Fintech Findi Secures ₹500 Crore Deal from Union Bank of India to Roll Out 900 ATMs Across India

Findi Ltd (ASX: FND), through its majority-owned Indian subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), has secured a significant contract with Union Bank of India to deploy 900 additional ATMs across the country. This strategic partnership, valued at approximately INR 500 crore in revenue and INR 200 crore in EBITDA over a 7+1 year period, further strengthens Findi’s position as India’s most capital-efficient and trusted Brown Label ATM (BLA) service provider.

Findi, through TSI, currently has over 9,000+ Brown Label ATMs in its portfolio, covering 13 major Indian banks, including SBI, HDFC Bank, and Central Bank of India. With the addition of Union Bank of India to its portfolio, Findi continues to bridge the financial services gap, providing critical banking infrastructure to underserved urban and rural communities across India. This expansion aligns with Findi’s broader vision to strengthen its ATM operations and enhance financial service accessibility across its extensive merchant network.

This partnership marks Findi’s third major deal this year. Recently, through TSI, Findi acquired BankIT, a digital payments service provider with over 129,000 merchant touchpoints, bringing its total merchant network to 180,000+. Additionally, Findi has secured RBI approval for the 100% acquisition of Tata Communications Payment Solutions Ltd, further consolidating its leadership in the financial services sector.

Deepak Verma, MD and CEO, Findi said, “We are excited to partner with Union Bank of India in this significant expansion of our ATM network. This partnership highlights the trust that leading Indian banks place in Findi’s expertise and efficiency as a partner. By expanding our footprint, we are enhancing banking access, particularly in semi-urban and rural areas, while driving financial inclusion and supporting India’s vision for a more connected, digital economy.”

The partnership with Union Bank of India aligns with Findi’s vision of building a comprehensive financial services marketplace, seamlessly integrating ATMs with its growing merchant network. This move will help in enabling millions of Indians to access essential banking services with greater ease and convenience.

Australian Fintech Findi Gets RBI Nod for Acquiring Tata Communications’ White Label ATM Business for ₹300 Cr

The Reserve Bank of India (RBI) has approved Tata Communications' sale of its 100% stake in Tata Communications Payment Solutions Limited (TCPSL) to the Australian fintech company Findi's Indian subsidiary, Transaction Solutions International (TSI).

The deal, announced in November 2024, is valued at Rs 330 crore (AUD 59.1 Mn), with an additional Rs 75 crore contingent on certain conditions.

Indicash, Tata Communications Payment Solutions Limited's White Label ATM network, was launched in June 2013. Indicash became India’s first-ever network of white label ATMs. It was in line with the RBI’s vision to accelerate growth and increase ATM penetration across the country. TCPSL currently owns and manages one of the largest networks of white label ATMs in the country.

White Label ATMs do not display the branding of any specific bank. Instead, they operate under the label of the non-bank entity.

This acquisition will significantly expand Findi's presence in India's financial services sector, particularly targeting the 'underbanked' population. It aligns with TSI's ambition to evolve into a full-fledged payments bank, leveraging its current network of over 7,500 ATMs.

Launched in 2005, TSI operates a brown label ATM business, partnering with 12 public and private sector banks (including State Bank of India, Central Bank of India, Punjab National Bank and HDFC Bank), and has experience of managing backend operations for 10,000+ white label ATMs over the last eight years. It also enables payment services through its network of 40,000+ merchants via the brand FindiPay (started in 2018).

For an uninitiated, White Label ATMs (WLAs) are owned and operated by non-bank entities, do not display any specific bank branding, and aim to increase ATM accessibility, especially in rural and semi-urban areas. While Brown Label ATMs (BLAs) are where a third-party service provider owns the ATM hardware and lease, while a sponsor bank provides cash management and network connectivity. These ATMs display the branding of the sponsor bank.

While the RBI does not directly regulate BLAs, it ensures that banks and service providers adhere to necessary regulations through contractual obligations. Banks like Axis and ICICI Bank often use BLAs to expand their ATM presence.

Cred Becomes 1st Fintech Platform to Roll Out Access to CBDC e-Rupee

Cred, a fintech platform backed by Tiger Global and Peak XV, has become the first fintech company to roll out access to India's central bank digital currency (CBDC), known as the e-rupee.

The Reserve Bank of India (RBI) initiated a pilot for the e-rupee in December 2022, initially allowing only banks to offer access. However, in April 2024, the RBI expanded the pilot to include payment firms.

Cred will initially roll out access to its e-rupee wallet to a select set of users, with the issuance of e-rupee tokens facilitated by YES Bank. The goal is to make e-rupee transactions seamless and drive adoption among creditworthy users.

Kunal Shah, the founder of Cred, stated that their goal is to make e-rupee transactions frictionless and drive its adoption among the most creditworthy Indians.

While e-rupee transactions had surged initially, they have since declined, reflecting the global challenge central banks face in popularizing digital currencies.

Cred's platform is known for catering to creditworthy users, making it an ideal partner for the initial rollout of the e-rupee to ensure a smooth and reliable implementation.

Other payment firms like GooglePay, PhonePe, AmazonPay, and MobiKwik are also expected to join the digital currency pilot.

Fintech Startup Ambak Raises $7 Mn in Funding Led by Peak XV Partners

• Founders are ex-leadership from Policybazaar, Paisabazaar, CarDekho, Freecharge by Axis Bank, HDFC Life and ZestMoney
• In just 12 months, Ambak has served 15,000+ home buyers and signed an official partnership with Delhi Development Authority (DDA) to serve 35,000+ customers

Ambak, a technology-driven marketplace streamlining the home loan process, announces $7 million in funding through a combination of Seed and Pre-Series A funding. Leading investors include Peak XV’s Surge in the seed round, with Peak XV Partners doubling down for Pre-Series A, Advantedge VC, DeVC, and angel investors, who have significantly increased their stake in the company.

The founders, leaders from PB Fintech, Freecharge, CarDekho Group and ZestMoney who have built scaled platforms in insurance, car loans and unsecured lending, launched Ambak in January 2024, to improve customer and home seller experience in a fragmented, opaque and large ($160 Bn / annum) home finance market. Despite favourable government policies like the Pradhan Mantri Awas Yojana (PMAY), the home loan process in India remains cumbersome, often confusing customers with over 150 financiers offering loans. Ambak simplifies this by providing a transparent, three-step process for selecting the right financier, supported by Digital Public Infrastructure (DPI) and bank rule engines.

Within the first 12 months, Ambak has built their marketplace integrating with 50+ lenders, expanded distribution in 6 states and automated credit processes to serve the needs of 15,000+ customers and 3,000+ intermediaries including builders and brokers. They also signed an industry-first official partnership with Delhi Development Authority (DDA) to serve 35,000+ customers over the next 12 months. This growth prompted their existing investors with Peak XV as the lead to infuse a further $3.7 Million in January 2025 to co-create new products, build AI tools and expand distribution to all major hubs in India.

"For a majority of Indians, buying a home is the biggest financial decision they will ever make, but access and affordability continue to be a significant hurdle. Despite 160+ lenders serving all types of customers & properties, customers find it hard to find the right lender and handle the process. Ambak’s mission is to distribute $20 billion in home finance annually in the next five years, while leading the charge to provide transparency and predictability to the home-buying experience," shared Raghuveer Malik, CEO of Ambak.

 

Ashish Agrawal, Managing Director, Peak XV shared, “Mortgages represent the largest market for credit in India. The founding team at Ambak come with strong relevant experience and we are impressed with their early execution. We believe they can leverage technology effectively to solve for various needs of borrowers, intermediaries and banks in the mortgage market.”

Ambak, which has quietly been building its presence and launched its app 12 months ago, has been making waves in the industry. The startup uses technology and integrations with Digital Public Infrastructure (DPI) services to serve both the customer & their lending partners offering a simple and assisted process for getting a home loan.

“We felt that the distribution of the secured retail lending space, in which home loans is the largest component, was riddled with lack of innovation despite lenders having made monumental upgrades in the last 5 years” said Rameshwar Gupta, CTO of Ambak who previously served as the CTO of Freecharge (By Axis Bank).

Ambak's Expansion and Innovation Goals

The newly raised funds will enable Ambak to expand its operations across 35 cities and serve 100,000+ customers, crossing $1 Billion in disbursements in FY26. To ensure it stays customer-obsessed, Ambak is strengthening its Loan Comparison tools, developing Vernacular AI bots for better customer outreach, and improving its AI/ML-based loan processing engine. The company is also co-creating products with financiers to expand options and deepen financial penetration across the country.

Leveraging Technology to Drive Change

Ambak’s platform integrates real-time data from lenders and employs AI-driven processes to reduce turnaround times and minimize customer confusion. By streamlining operations, Ambak aims to drive the adoption of customer-centric practices that promote transparency and affordability, ensuring a significant boost to the home finance sector by FY32.

Ambak is a fintech startup revolutionizing the home financing industry. By combining advanced technology with a customer-centric approach, AMBAK simplifies the mortgage process and helps individuals achieve their dream of homeownership. The platform leverages data analytics, AI-driven recommendations, and robust customer support to provide a transparent, efficient, and empowering experience. For more information, visit https://www.ambak.com/

YES BANK Launches Frictionless Finance Accelerator to Empower Fintech Startups

YES BANK, in collaboration with the Reserve Bank Innovation Hub (RBIH) and S.P. Jain Institute of Management and Research (SPJIMR), has announced the launch of the Frictionless Finance Accelerator Programme. This initiative, unveiled on National Startup Day, aims to support fintech startups in addressing critical challenges, scaling their innovations, and driving financial inclusion.

India’s startup ecosystem is thriving, with over 1.5 lakh Department for Promotion of Industry and Internal Trade (DPIIT) registered startups and more than 100 unicorns. Fintech, a key pillar of this growth, is redefining access to financial services and enabling small businesses to thrive. With this accelerator, YES BANK reinforces its role as a catalyst for innovation and collaboration in this dynamic sector.

Key Features of the Frictionless Finance Accelerator, include :

1. Support System for Startups: Startups gain access to expertise from RBIH, academic resources from SPJIMR, and YES BANK’s industry knowledge.
2. Focus on Emerging Technologies: The programme supports solutions in digital lending, AI-powered risk management, blockchain-based payments, and financial inclusion.
3. Regulatory and Business Guidance: Platforms like YES Connect provide startups with tools to navigate regulatory frameworks, optimise business models, and leverage digital infrastructure.
4. Collaborative Ecosystem: The programme builds partnerships between fintechs, industry leaders, and regulators to foster growth and innovation.

Mr. Prashant Kumar, Managing Director & CEO, YES BANK, said,

India has emerged as the third-largest startup ecosystem globally, and fintech startups are at the forefront of this transformation. The world is changing fast, and the future is one of interconnectedness, powered by technologies that once seemed impossible. At YES BANK, we are committed to supporting this growth through initiatives like the Frictionless Finance Accelerator, which helps startups address real-world challenges and build scalable solutions.

YES BANK’s Role in Driving Innovation

YES BANK has consistently supported startups, especially in fintech, through initiatives like YES HeadStartup and digital platforms such as IRIS Biz, YES Connect, and SmartFin. These solutions simplify operations, enabling startups to focus on innovation.

The Bank’s partnerships, such as the recent collaboration with Vegapay to launch Credit Line on UPI, highlight its emphasis on co-creating financial solutions tailored to startups’ needs. Similarly, its association with SPJIMR’s Wise Tech School of Innovation provides startups with mentorship, funding access, and resources to scale efficiently.

“Our focus is on creating a robust ecosystem where startups can thrive. We don’t just offer products or platforms; we offer partnerships that drive real impact,” Mr. Kumar added.

Dr. Varun Nagaraj, Dean, S.P. Jain Institute of Management and Research, emphasised the value of collaboration for responsible innovation, stating,

We appreciate the support provided by RBIH and YES BANK to launch the first Frictionless Finance Accelerator. At SPJIMR, through our WISE Tech initiative, we champion responsible innovation that blends cutting-edge technology with inclusivity and ethics. This partnership will enable start-ups to address challenges, redefine financial accessibility, and contribute to India's growth. Together, we are shaping a seamless and secure financial culture.

Mr. Rajesh Bansal, CEO, Reserve Bank Innovation Hub, shared his vision and stated,

Our mission of enabling 'Frictionless Finance for a Billion Indians' is deeply rooted in fostering innovation and entrepreneurship. This accelerator programme is a testament to our commitment to empowering entrepreneurs by providing access to world-class mentorship, facilitating connections with banks, and enabling them to create pathways for transformative growth that will shape the future of India’s financial ecosystem.

The Programme’s launch coincides with a time of tremendous opportunity and transformation. With global venture capital investments in 2024 soaring to $314 billion and the global digital economy expected to exceed $20 trillion by 2030, fintech start-ups are poised to play a pivotal role in shaping the future of finance. The Frictionless Finance Accelerator is a movement that symbolises the transformative power of partnerships, bold vision, and relentless action.

What Is Embedded Finance?

Embedded finance is transforming how consumers and businesses interact with financial services, making them more accessible, convenient, and integrated into everyday activities.

Embedded finance is a rapidly growing trend where financial services are integrated into non-financial platforms and applications. This allows users to access financial services seamlessly within the tools and services they already use.

Major e-commerce platforms like Amazon, Flipkart, and Myntra have integrated digital payment solutions, enabling users to make secure and convenient transactions directly from their smartphones. These firms also offer options like EMI (Equated Monthly Installment) cards and Buy Now, Pay Later (BNPL) services, making it easier for customers to manage their finances.

Companies like Ola and Uber have embedded financial services within their apps, allowing users to pay for rides, split fares, and even access micro-loans for vehicle maintenance or personal emergencies.

Within Banking-as-a-Service (BaaS), companies like Stripe and Plaid offer APIs that enable non-financial businesses to integrate banking services into their platforms. For example, a retail app might offer a "Buy Now, Pay Later" option at checkout.

In a real world example of embedded finance in retail, Walmart offers a seamless shopping experience with its online store, mobile app, and physical stores, allowing customers to switch between channels effortlessly. In an another, Starbucks uses its mobile app to integrate loyalty rewards, payments, and order-ahead services, creating a cohesive customer experience.

One aspect of Embedded Finance is White-Label Neobanking where businesses can launch their own branded financial products without building the infrastructure from scratch. This is often done through partnerships with licensed banks and technology providers.

Embedded finance platforms can facilitate real-time transactions, reducing delays associated with traditional banking. For instance, DailyPay allows workers to access their earned wages instantly through their employer's app.

Digital Wallets and Mobile wallets like Apple Pay and Google Wallet integrate payment services directly into users' smartphones, making transactions more convenient and secure.

Digital wallets like Paytm and PhonePe offer embedded financial services, including bill payments, money transfers, and access to credit facilities, all within the wallet app.

Besides, it also entails Embedded Insurance where in companies can offer insurance products directly within their platforms. For example, a travel booking site might provide travel insurance options during the booking process.

Further, Embedded Lending also falls under the embdedd finance realm where non-financial companies can offer loans and financing options to their customers. For instance, a car dealership might provide auto loans directly through its website.

These examples illustrate how embedded finance is making financial services more accessible, convenient, and integrated into everyday activities.

Benefits of Embedded Finance

• Enhanced Customer Experience: By integrating financial services into their platforms, businesses can offer a seamless and convenient experience for their customers.
• Increased Revenue Streams: Businesses can generate additional revenue by offering financial products and services directly to their customers.
• Financial Inclusion: Embedded finance can help reach underserved populations by providing access to financial services through familiar platforms.

Embedded finance is revolutionizing the way financial services are accessed and delivered, making them more accessible, convenient, and integrated into everyday activities.

Fintech Startup Navanc Raises $1 Mn Seed Funding to Revolutionize Secured Lending with AI-Powered Property Score

• Navanc, India’s first AI-powered property score and stack for secured lending and insurance, integrates advanced AI, IoT, and Blockchain for secure transactions
• The funds will support expansion across Tier 1–4 cities and enhance its AI capabilities with Generative AI and Computer Vision models.
• So far, Inflection Point Ventures has invested over INR 790 Cr across 210+ startups.

Navanc, a pioneering FinTech startup building India’s first AI-powered property score and stack for secured lending and insurance practices, has successfully raised $1 million in a seed funding round. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors.

The funds will be directed toward expanding operations across India, with a focus on strengthening Navanc's presence in urban and semi-urban areas. Additionally, the startup will bolster its AI FinTech capabilities by incorporating Generative AI and Computer Vision models to further its vision of becoming India’s first Property Credit Score and Stack provider.

Navanc was founded by Nagachethan S M, CEO, and Byomkesh Jha, CTO and Data Officer, in 2021. With a strong background in technology and finance, Nagachethan leads Navanc’s vision and strategy, driving innovation in the BFSI segment. A seasoned data science professional , Byomkesh oversees Navanc’s Technology and Data Science, ensuring seamless execution of its AI and Tech goals.

Mr Mitesh Shah, Co-Founder, Inflection Point Ventures, says, ”Banks, NBFCs, HFCs all face the same challenges in mortgage and property assessment: inconsistent and time-consuming property valuations, lacking both transparency and data to build trust. By providing precise & scalable property valuation, transparency and reliability, Navanc helps every player in the industry make informed decisions based on real-time assessment, data and knowledge of legal and technical aspects. Thus reducing risks for both lenders and buyers. As investors, we are confident in Navanc’s potential to make property valuation efficient, trustworthy and data-driven.”

Mr Sreenivas Ramarao, from Prarambh Venture opines, “We believe Navanc is the pioneer in delivering AI and Digital services in making the real estate transactions faster, cheaper, reliable and more accurate. We also have great confidence in the team and are fully confident of their ability to deliver user friendly products in the space.”

“Brigade REAP has played a key role in refining and accelerating growth for Navanc, who have shown immense potential in revolutionizing property assessment through their innovative solutions. Navanc's strengths lie in its ability to streamline financial access for properties by integrating AI, IoT and Blockchain for secure, transparent transactions, making it a transformative player in the PropTech sector. Our association with Navanc is testament to our commitment to fostering innovation in the PropTech sector” commented Abhay Garg, the Head of Brigade REAP.

Navanc stands out as India’s first FinTech startup to introduce an AI-powered property score and stack, specifically designed for secured lending and insurance practices. By integrating advanced technologies like AI, IoT, and Blockchain, the company ensures secure, transparent, and reliable transactions, setting a new benchmark in the PropTech sector. Its comprehensive collateral reporting, powered by cutting-edge AI and ML models, significantly enhances credit decision-making and portfolio management for the BFSI industry.

Nagachethan S M, CEO, Navanc, says, “We’re grateful for the support of our investors and excited to further our mission of revolutionizing secured lending and insurance practices in India. Our AI-powered solutions are set to make property transactions faster, more transparent, and accessible to all.”

Currently operating across Tiers of cities in about 6 states, Navanc is focused on expanding its reach to all statesunder its Bharat Vision. This strategic move aims to foster financial inclusion across India, transforming property lending and insurance practices nationwide.

Since its inception in 2021, Navanc has developed a cutting-edge technology stack that streamlines secured lending, insurance, and property aggregation practices in the BFSI sector. Its innovative solutions significantly reduce turnaround time, enhance transparency, and facilitate improved credit decision-making and portfolio management. The Indian property lending market is poised for exponential growth, with a rapidly increasing demand for digital and AI-enabled solutions to facilitate secured transactions.

About Navanc

Navanc, founded in 2021 by Nagachethan S M and Byomkesh Jha, is a FinTech innovator developing AI-driven solutions for secured lending and property aggregation in the BFSI sector. With a focus on building India’s first property credit score and stack, Navanc is transforming the way financial institutions assess and manage collateral.